The risk of European recession still lingers over the continent, but euro zone policymakers are likely to introduce a package this month that's comprehensive enough to head off that scenario, according to an official at the International Monetary Fund.

Euro zone leaders are expected to come up with a substantive plan to solve the area’s crippling debt crisis by the time of the G20 leaders summit in Cannes on Nov. 3. At the back of every investor’s mind is the thought that we could be setting ourselves up for a big fall.

Emerging market countries are working on ways to contribute money rapidly to expand the effective firepower of the International Monetary Fund, with the aim of increasing its role in combating the eurozone sovereign debt crisis. The FT reports.

As the sovereign debt crisis is hits Europe and the idea of a double dip recession is starting to spread all over the world, G20 labor ministers gathered in Paris on Tuesday said job creation, particularly by small enterprises, was crucial in overcoming the financial crisis and warned that austerity measures needed to be balanced with the creation of jobs.

Even the Gulf countries were not spared by the European and U.S. debt crisis. With unemployment figures estimated as high as 12 percent, the United Arab Emirates has lots of gaps to fill, Saqr Ghobash, the minister of labor for the UAE, told CNBC.com Tuesday.

Risk is back on the table after a terrible end to last week for the bulls. Following news of "Operation Twist" from the Federal Reserve, the market sold off aggressively, adding the pressure on policy makers as they met in Washington over the weekend to try and find a plan to avert a euro zone sovereign debt and banking crisis.

The leaders of six members of the G20 group of world economic powers issued a joint open letter to the French president Nicolas Sarkozy on Thursday, calling for decisive action to be taken over the eurozone debt crisis.

New capital requirements proposed by global regulators demanding that the biggest banks hold extra capital by 2019 will bring about a new recession, Rochdale's vice-president for equity research Dick Bove wrote in a weekend market note.

The matters of food production, lack of transparency in food stocks and speculation on commodities markets need to be tackled as they are affecting food prices, French agriculture minister Bruno Le Maire told CNBC.com Monday.

G20 finance ministers concluded meetings over the weekend in France where they highlighted the key role of exchange rates, monetary and fiscal policies in determining whether a country's policies lead to imbalances.